WASHINGTON: The United States government said yesterday that nine Japanese auto-parts companies and two executives have pleaded guilty to price-fixing and will pay more than $740m in fines.
The parties, in separate conspiracies, fixed the prices of more than 30 different products sold to US car manufacturers and installed in cars sold in the United States and elsewhere, the Department of Justice said in a statement.
The products include seat belts, radiators, windshield wipers, air conditioning systems, power window motors and power steering parts. The Justice Department said that Hitachi Automotive Systems Ltd had agreed to pay a $195m fine, the largest among the penalties announced. The plea agreements require court approval.
Mitsubishi Electric Corporation was hit with the second-largest fine, at $190m. The other companies are Mitsubishi Heavy Industries, Jtekt Corp, Mitsuba Corp, NSK Ltd, T.RAD Co Ltd, Valeo Japan Co Ltd and Yamashita Rubber Co Ltd.
The two executives are Tetsuya Kunida, a Japanese citizen and former executive of a US subsidiary of a Japan-based automotive anti-vibration rubber products supplier, and Gary Walker, a US citizen and former executive of a US subsidiary of a Japan-based automotive products supplier.
The former employers of the two executives were not identified by the Justice Department.
Each of the companies and executives has agreed to cooperate with the ongoing investigation, the department said. The cases involved parts sold to Chrysler, Ford and General Motors, and the US subsidiaries of Honda, Mazda, Mitsubishi, Nissan, Toyota and Subaru. The price-fixing conspiracies took place in a range from 2000 to 2012.
AFP
